Northwestern Mutual Wealth Management Co. Acquires 10,706 Shares of Medtronic PLC $MDT

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Medtronic PLC by 7.2%, acquiring a total of 160,311 shares valued at approximately $14.41 million.
• Wall Street analysts have mixed ratings for Medtronic, with an average rating of "Moderate Buy" and a price target of $101.15, while the company recently beat earnings expectations with $1.26 EPS.
• Medtronic announced a quarterly dividend of $0.71 per share, resulting in an annual yield of 3.1%, with a payout ratio of 78.24%.

Northwestern Mutual Wealth Management Co. increased its position in Medtronic PLC (NYSE:MDT - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 160,311 shares of the medical technology company's stock after buying an additional 10,706 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Medtronic were worth $14,405,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MDT. Boston Partners boosted its holdings in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company's stock worth $619,460,000 after buying an additional 3,809,450 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company's stock valued at $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Medtronic by 42.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company's stock valued at $903,915,000 after purchasing an additional 3,017,849 shares during the last quarter. Nuveen LLC bought a new position in shares of Medtronic during the 1st quarter valued at about $260,649,000. Finally, Burgundy Asset Management Ltd. bought a new position in shares of Medtronic during the 4th quarter valued at about $174,329,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MDT shares. Morgan Stanley reissued an "overweight" rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. William Blair raised shares of Medtronic to a "hold" rating in a report on Friday, July 11th. Robert W. Baird increased their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Mizuho increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.14.

Insider Activity at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of Medtronic stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company's stock.

Medtronic Trading Up 0.8%

Shares of NYSE:MDT traded up $0.76 during trading on Friday, reaching $92.72. 5,174,507 shares of the company were exchanged, compared to its average volume of 7,664,636. The firm has a market capitalization of $118.93 billion, a PE ratio of 25.54, a P/E/G ratio of 2.34 and a beta of 0.80. The business's fifty day simple moving average is $90.18 and its 200-day simple moving average is $88.07. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.42.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio (DPR) is 78.24%.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.